COMMENTARY
INTERVIEWS
SPECIALS
CHAT
ARCHIVES

Rupee steady

The Indian rupee closed steady against the American greenback, and the forward dollar premia dropped moderately at the Interbank Foreign Exchange Friday.

The Indian unit opened at 42.49/50, touched the day's high of 42.46/47 but could not sustain at the level and ended steady at the opening level, dealers said.

The rupee-dollar movement was quiet and dollar selling by foreign banks to generate rupee had little impact on the market, commented market watchers.

The cash-spot quoted higher at 10-12 paise premium in view of tight conditions.

The forward premia in paise were quoted at January 7-9, February 24-27, March 46-49, April 73-76, May 95-98, June 120-123, July 149-152, August 176-179, September 203-206, October 231-234 November 259-262 and December 288-292.

The half-yearly premium was quoted at 6.58 per cent.

The rupee however, declined moderately against the euro, japanese yen and pound sterling.

It opened at 49.69 against the euro and closed at 49.56, lower by six paise from the previous close of 49.50.

The Indian unit opened at 37.58 against the Japanese yen and closed at 37.72, loosing 43 paise over the previous close of 32.29.

Similarly, it closed at 70.43 per British pound and lost 37 paise from the previous close of 70.06.

UNI

Business news